Example FCF.1. EMC Corp’s current free cash flow is $400,000 and is expected to grow at a constant rate of 5%. WACC = 12%. Calculate EMC’s value of operations.Vop = FCF1 / (WACC – g )2. Brooks Enterprises has never paid a dividend. Free cash flow is projected to be $80,000 and $100,000 for the next 2 years, respectively, and after the second year it is expected to grow at a constant rate of 8 percent. The company’s WACC is 12%. What is the terminal, or horizon value of operations (hint: constant cash flow part) and value of

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